America’s Wealth Elite Dominates Global Rich List, but Many Are Seeking a Way Out

Introduction

The United States continues to reign as the epicenter of global wealth, housing a staggering 33% of the world’s billionaires and amassing an impressive 34% of total global net private wealth.

With more than 6 million millionaires, 10,800 centi-millionaires (those with assets surpassing $100 million), and over 850 billionaires, the U.S. solidifies its position as the dominant force in international wealth rankings. 

Yet, in a surprising trend, a growing segment of this affluent elite is actively seeking opportunities outside the borders of their home country.

As the U.S. wealth population expands, so too does the desire for alternative residencies and dual citizenships, reflecting a shift in the strategies employed by the ultra-wealthy to safeguard their fortunes and future. 🌐

The Surge in Wealth Migration: U.S. Citizens Lead Global Investment Migration Requests 📈

According to data released by the global advisory firm Henley & Partners, U.S. nationals now account for over 30% of all global investment migration applications handled by the firm in 2025 — a figure that is nearly double the combined total of the next five leading nationalities. 🌍

Between the first quarter of 2024 and the same period in 2025, inquiries from U.S. citizens about alternative residencies and citizenships surged by an astounding 183%. 

This exponential rise underscores a significant evolution in how America’s wealthy class views national allegiance, financial security, and global mobility.

🧐 Why Are America’s Wealthiest Seeking Second Passports?

As explained by Basil Mohr-Elzeki, North American Partner at Henley & Partners: Securing alternative residencies and citizenships has transformed into a strategic risk management tool for high-net-worth individuals. 

Supporting this assertion, Professor Peter J. Spiro of Temple University elaborated in the firm’s latest report: U.S. citizenship alone is no longer seen as a sufficient guarantee. Dual citizenship has now emerged as the new American dream. 

A Decade of Explosive Wealth Growth Fuels the Trend 🚀💲

This migration shift is occurring despite, or perhaps because of, a decade marked by unprecedented wealth expansion in the United States.

From 2014 to 2024, the U.S. millionaire population skyrocketed by an impressive 78%, surpassing even China’s robust 74% growth over the same period. 

In comparison, other major G10 economies lagged considerably:

• 🇩🇪 Germany: +10%
• 🇯🇵 Japan: +5%
• 🇬🇧 United Kingdom: -9% (a significant decline)

This explosive growth concentrated primarily in key metropolitan areas and emerging wealth hubs, fueling both domestic prosperity and international ambitions among the nation’s economic elite. 

The U.S. Wealth Map: Where the Millionaires and Billionaires Reside 📍💎

🗽 New York City: Still the World’s Top Wealth Capital

New York City continues to reign as the global city with the most millionaires, boasting an estimated 384,500 individuals in this affluent bracket. Among these are:

•  818 centi-millionaires (net worth over $100 million)
• 66 billionaires

The San Francisco Bay Area, home to Silicon Valley and San Francisco, follows closely with approximately 342,400 millionaires and the largest concentration of billionaires in the United States — a remarkable 82 individuals. 

The region’s millionaire population has nearly doubled, expanding by 98% over the last decade, reflecting the tech sector’s meteoric rise and its influence on regional wealth creation. 

🌆 Other U.S. Cities Experiencing Rapid Wealth Growth

Several other American cities have also demonstrated remarkable wealth expansion:

• ⭐ Scottsdale: +125%
• ⭐ West Palm Beach: +112%
• ⭐ Miami: +94%
• ⭐ Austin: +90%

Additionally, cities such as Dallas (+85%), Houston (+75%), and Los Angeles (+35%) have reported significant increases in their millionaire populations. 

Emerging wealth hubs including Tampa, Denver, Salt Lake City, and Santa Fe are benefiting from the convergence of technology sector growth and favorable tax environments, fueling their transformation into new magnets for wealth migration. 

Shifting Priorities: The Rise of Strategic Relocation 🗺️🔑

The concept of strategic relocation has become central to wealth management among America’s elite. Amid global uncertainties from geopolitical instability to taxation policy shifts and climate-related risks affluent individuals are seeking to diversify their residency and citizenship portfolios. 

For many, dual citizenship provides:

✅ Enhanced global mobility

✅ Tax optimization opportunities

✅ Political and economic security

✅ Access to superior healthcare and education systems abroad 

This trend reflects an evolving mindset among the ultra-rich — one that prioritizes flexibility, protection, and freedom over traditional notions of national loyalty. 

Parallel Trend: Surge in U.S. Investment Visas for Foreign Nationals 💼

While many affluent Americans are exploring exit strategies, the reverse flow of wealthy individuals seeking to enter the United States is also gaining momentum. 

The popular EB-5 Immigrant Investor Program offering a U.S. Green Card to foreign nationals who invest a minimum of $800,000 experienced a 57% increase in inquiries during The first quarter of 2025 compared to the same timeframe in 2024. 

🥇 Trump’s “Gold Card”: A New Incentive for High-Net-Worth Individuals

In a strategic move to attract more global capital, President Donald Trump unveiled the “Gold Card” initiative in early 2025.

The program promises to accelerate citizenship for individuals who invest $5 million or more into the U.S. economy. 

Policy Objectives 🌟🏆

According to Jean Paul Fabri, Chief Economist at Henley & Partners: The U.S. remains the best place in the world to create and expand wealth, even as part of its elite explores opportunities abroad. 💼

Global Wealth Migration: A Broader Perspective 🌍💼

The American experience is part of a wider global trend wherein high-net-worth individuals are increasingly viewing citizenship and residency as strategic assets. 

Leading destinations for wealth migration include:

• 🇵🇹 Portugal: Popular for its Golden Visa and favorable tax policies
• 🇦🇺 Australia: Noted for its quality of life and political stability
• 🇬🇷 Greece: Attractive due to low-cost residency programs
• 🇲🇹 Malta: Offers direct citizenship by investment
• 🇨🇦 Canada: Known for its welcoming immigration policies and robust economy

These countries are leveraging their residency-by-investment (RBI) and citizenship-by-investment (CBI) programs to attract global capital and talent. 

The Future of U.S. Wealth Migration: Challenges and Opportunities 🔮⚖️

As the global landscape for wealth migration evolves, Multiple key elements will influence how the future unfolds for American investment migration trends:

🌐 Regulatory Changes

Increased transparency requirements and anti-money laundering (AML) measures may make it more challenging for some to pursue alternative citizenships. 

💰 Wealth Concentration

The growing concentration of wealth in specific U.S. cities may exacerbate economic inequalities, prompting more elite individuals to seek global diversification of their assets. 

🌱 Sustainability and ESG Concerns

As Environmental, Social, and Governance (ESG) considerations gain prominence, affluent individuals may prioritize residencies in nations that align with their personal values and offer sustainable living environments. 

Conclusion: Dual Citizenship — The New American Dream? 🛫🇺🇸✨

The United States undeniably continues to dominate the global wealth hierarchy, boasting unparalleled numbers of millionaires and billionaires.

However, a notable portion of this elite is now redefining the American Dream, not solely in terms of accumulating wealth but through securing mobility, security, and global options. 

As strategic residency and citizenship planning becomes increasingly common among the wealthy, it reflects a world where borders are more permeable for those with means, and where national identity is becoming a portfolio decision rather than a birthright.